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Refresco vs. gaseosa vs. soda

Word practice demo
While refresco, gaseosa, and soda all refer to non-alcoholic, usually carbonated beverages, the choice of word depends heavily on the specific Spanish-speaking region and sometimes the specific type of drink.

Refresco

A1
This is the most standard term in Spain and Mexico. It is derived from the word fresco, meaning cool or fresh. While it almost always refers to a carbonated soft drink like Coke or Pepsi, in some contexts, it can broadly refer to any cold drink used to cool down.
Tengo calor, voy a comprar un refresco.
(I am hot, I am going to buy a soft drink.)
En el cine siempre pibo un refresco grande y palomitas.
(At the movies, I always order a large soda and popcorn.)
¿Prefieres agua o refresco con tu comida?
(Do you prefer water or soda with your meal?)

Gaseosa

A2
This word literally translates to gaseous or fizzy. In most of South America, such as Colombia and Peru, gaseosa is the standard generic word for any soda. However, in Spain, gaseosa specifically refers to a clear, reliable, sweet carbonated water often mixed with wine or beer.
A los niños les encanta la gaseosa de naranja.
(The kids love orange soda.)
En España, mucha gente mezcla vino tinto con gaseosa.
(In Spain, many people mix red wine with sweet fizzy water.)
No quedan botellas de gaseosa en el refrigerador.
(There are no bottles of soda left in the fridge.)

Soda

A2
Used commonly in parts of Latin America with stronger English influence or proximity to the US (like Costa Rica, Venezuela, and parts of the Caribbean) to mean any soft drink. In other regions, soda specifically refers to club soda or unflavored sparkling water used for cocktails.
¿Me puede traer una soda de limón?
(Can you bring me a lemon soda?)
Para este cóctel necesitas whisky y un poco de soda.
(For this cocktail, you need whiskey and a little club soda.)
Ella dejó de tomar soda porque tiene mucha azúcar.
(She stopped drinking soda because it has a lot of sugar.)

Summary

Use refresco generally in Spain and Mexico. Use gaseosa for general sodas in South America, but only for clear sweet mixers in Spain. Use soda as a generic term in Central America and the Caribbean, or to refer specifically to carbonated water/club soda in other regions.